Financial Times moves back into profit

The Financial Times put a stop on its losses today as higher advertising revenues sent it into the black for the first time since 2002.

Pearson, which also owns the Penguin book business and prints textbooks in the United States, said losses of £12m (€17.6m) at the FT in 2004 had been turned into profits of £2m (€2.9m) last year after advertising revenues leapt 9%.